What are the different workers' comp rates?


Quick Answer

Workers' compensation rates typically update yearly, and they vary by state and industry, note the California and Texas department of insurance websites. Workers and employers can view current rates through their state's department of insurance website.

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Full Answer

Workers' compensation rates are the insurance rates that employers pay to cover the state-mandated indemnity benefits and medical costs for injured workers, states the WCIRB California website. Businesses are assigned classifications based on industry, which is one factor for determining the premium amounts. Rates are typically based on per $100 of payroll, and state department of insurance websites typically offer rates tables for employers to view, but additional eligibility requirements may need to be met.

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